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Student loan debt in the United States now totals over $1.7 trillion, with the average federal student loan debt balance at $37,338, according to the Education Data Initiative. If you're one of the...
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In 10 years, the loan program experienced 230% growth in the loan portfolio and 130% growth in the loan recipients. Student loan debt in 2019 is the highest it has ever been. According to the latest loan debt statistics, student loan debt has become the second highest consumer debt category behind mortgage debt. [15]
“The road to hell is paved with good intentions,” said Betsy Mayotte, the head of the Institute of Student Loan Advisors, a nonprofit that provides free student loan advice.
In 2018, the group joined the American Federation of Teachers to launch an investigation into the failure of the Public Service Loan Forgiveness program. [15] Over the course of three years, Student Borrower Protection Center supported litigation by teachers and uncovered evidence of government mismanagement and industry abuses across the student loan system, including evidence that Public ...
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